It's a 500M development well unless they have approached you they probably don't need you .its just like the 4 acres I own next to the largest casino on N CA  that they just spend 400 million building.I am zoned multi use resi commercial but until I have a user .. no joy.. 

@Alexander Nason - it may also be worthwhile looking at a Fannie Mae Homestyle Renovation mortgage: https://www.fanniemae.com/content/fact_sheet/homes...Homestyle loans require a higher down payment for 2-4units and loan limits aren't as high as FHA in some areas, but I think this could be a better option long term if you can figure out the remaining down payment:No upfront mortgage insurance premium (1.75% on FHA)Cancelable mortgage insurance (once you reach 22% equity) We bought our 4-plex with an FHA loan and it has been incredible - 3.25% interest rate and 3.5% down on $700k would be really challenging outside of FHA, but my mortgage insurance is almost $600/mo. 

It’s incredibly basic.Let’s say you have one NPN note and the exit strategy is a loan modification.Current monthly payment: $1000I discount that payment by 20% so I look for $800 monthly to come inI then consider purchase price for note: 20k (for ex)Workout expense: 3.5k (for ex)TOTAL all in expense 23.5k$800 x 12 months gives $9,600 of income9.6k/23.5k gives a 40% cash on cash return

My husband and I have a few deals under our belt and have been approached about partnerships.

It will be incredibly useful to have the knowledge you are learning right now, as you will be able to apply it to your flips, and ensure your contractor(s) aren't peeing on your back and telling you it is raining.

You need to get a good paying job and after saving/working for two years if you have sufficient funds for a DP you then approach a bank for a loan.To be a investor you must have cash, employment and a high credit score.

Karen, I won't be attending but I can recommend a tip that could save you thousands of dollars: Leave your credit cards at home.Most of the free / low cost seminars give you a few crumbs of information but are mainly sales presentations designed to "upsell" you on more expensive "boot camps" and/or "mentoring programs".They all follow the same classic sales formula, they'll tell you that it normally costs $X (you can even go on their website and see that price) but "today only" or "only for the first N people to sign up" they're putting on a special deal.They'll do the whole "this is how much it would cost individually but here's an incredible package deal" etc.

Fortunately, I have a relationship with a lender that will lay out my options for me and discuss openly what they can and cannot do.As I looked into this further tonight comparing to other multifamily properties near the area, it would appear that the listing price is incredibly high.

I've been searching around the Yonkers/New Rochelle and Stamford/Greenwich area and the cap rates are incredibly low; almost not even there.

Do not approach your traditional Realtor who's selling nice big family homes in the suburbs with white picket fences and what not.